A report recently released by the Ningbo Investigation Team of the National Bureau of Statistics shows that in 2021, the consumption expenditure of Ningbo residents showed a rapid growth trend, and consumer confidence continued to recover, but the growth of some consumption items was weak, and the gap between urban and rural consumption widened. “How to deal with the new situation and new problems of residents’ consumption under the background of epidemic normalization needs to attract the attention of relevant departments”.
Last year, the consumption rate of residents reached 61.9%
In 2021, the consumption of Ningbo residents showed a rapid growth trend. The per capita consumption expenditure of all residents was 40,478 yuan, up 17.5% year-on-year, up 19.2% compared with 2019, with an average growth rate of 9.2% in two years. In terms of urban and rural areas, the per capita consumption expenditure of urban residents was 45,362 yuan, a year-on-year increase of 17.2%, an increase of 18.5% compared with 2019, with an average growth rate of 8.9% in two years; The per capita consumption expenditure of rural residents was 27,451 yuan, up 16.9% year-on-year, up 20.4% compared with 2019, with an average growth rate of 9.7% in two years.
According to the survey, in 2021, the consumption rate of Ningbo residents (the proportion of household consumption to disposable income) was 61.9%, up 4.4 percentage points year-on-year and 2.3 percentage points higher than that in 2019. With the economic operation and social and economic order continuing to restore stability, residents’ income has increased rapidly, residents’ consumption confidence has obviously recovered, and residents’ consumption tendency has continued to rise.
Consumer spending presents six bright spots
The proportion of service consumption has steadily increased. In 2021, the consumption expenditure of Ningbo residents’ necessities in four categories (food, tobacco, alcohol, clothing, housing and transportation and communication) was 30,280 yuan per capita, up 15.8% year-on-year, accounting for 74.8% of the total consumption expenditure, down 1.1 percentage points year-on-year. At the same time, the proportion of service-oriented consumption has increased, and service-oriented and improved consumption expenditures such as eating out, daily necessities and services, education and entertainment have increased significantly. In 2021, service consumption expenditure increased by 31.5% year-on-year, accounting for 46.0% of the total consumption expenditure, an increase of 4.9 percentage points over 2020.
Engel’s coefficient decreased slightly. The data shows that in 2021, the per capita expenditure on food, tobacco and alcohol of Ningbo residents was 11,346 yuan, accounting for 28.0% of the per capita consumption expenditure, down 0.7 percentage points from 2020. Residents’ per capita expenditure on eating out was 2,550 yuan, a year-on-year increase of 46.7%.
The number of durable goods owned by residents has steadily increased. With the gradual transformation of residents’ consumption structure, the development of enjoyment consumption has grown rapidly, and the ownership of durable consumer goods has increased steadily. According to the survey, in 2021, there were 59 family cars for every 100 households in Ningbo, a year-on-year increase of 1.4%. In terms of urban and rural areas, there are 65 family cars per 100 households in urban areas, an increase of 1.1%; There are 43 cars for every 100 households in rural areas, an increase of 3.2%. For other durable goods, every 100 households have 227 air conditioners, an increase of 4.5%; There were 236 mobile phones, up by 1.8%, of which 211 were connected to the Internet, up by 3.6%.
Expenditure on education, culture and entertainment has rebounded sharply. According to the survey, in 2021, the per capita expenditure on education, culture and entertainment of residents was 4,255 yuan, a year-on-year increase of 39.9%, ranking first among the eight categories of consumption. Among them, residents’ education consumption expenditure was 3,108 yuan, up 53.6% year-on-year, and cultural and entertainment expenditure was 1,147 yuan, up 12.5%.
Medical and health care expenditure rebounded rapidly. In 2021, the per capita health care expenditure of residents was 2,328 yuan, a year-on-year increase of 19.3%. After the epidemic situation was controlled, residents went to the hospital normally, and the total hospitalization expenses of residents continued to increase. At the same time, residents pay more attention to their own health, in order to improve their physical fitness, enhance their immunity, strengthen physical exercise and buy health care products.
The consumption expenditure of transportation and communication increased steadily. In 2021, the per capita transportation and communication expenditure of residents was 5,629 yuan, a year-on-year increase of 6.7%. The reasons are as follows: First, the rise in commodity prices has led to a rapid rise in fuel prices, which has led to an increase in residents’ transportation and travel costs. The per capita transportation fuel expenditure of residents has increased by 22.3% year-on-year, which has boosted the transportation and communication expenditure by 5.0 percentage points. Second, in recent years, the coverage of rail transit has expanded, and public transport can basically meet the daily travel needs of residents, and low-cost, efficient and green travel has become a travel choice for more residents.
Five measures to deal with the widening consumption gap between urban and rural areas
The report shows that the consumption gap between urban and rural residents in Ningbo has widened. In 2021, the absolute consumption gap between urban and rural residents increased from 15,221 yuan in 2020 to 17,911 yuan, an increase of 17.7%; The consumption ratio of urban and rural residents has expanded from 1.648 in 2020 to 1.652. The proportion of rural residents’ daily necessities consumption expenditure remains high, the consumption motivation is insufficient, and the upgrading consumption is limited. The crowding-out effect of necessities consumption is still obvious, and the total expenditure on “food, clothing, housing and transportation” accounts for 74.8% of the total consumption. At the same time, some families save money for buying houses or repay housing mortgage loans, which inhibits the consumption vitality of residents to some extent.
To this end, the Ningbo investigation team of the National Bureau of Statistics suggested: First, we should increase residents’ income and strengthen residents’ consumption base. Second, we should deepen rural revitalization and raise the level of rural consumption. Third, we should optimize market supply and stimulate residents’ consumption potential. Fourth, we should strengthen the prevention and control of epidemic situation and create a good consumption atmosphere. Fifth, we must deepen social security and reduce the consumption burden of residents.
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(Contributed by Ningbo Municipal Commission of Commerce)